John Gachora Made 1.4 Million As Ceo Of Ncba Group Last Year

Kenyan banker John Gachora , the Group Managing Director and Chief Executive Officer of NCBA Group, one of the leading financial services groups in the largest economy in the East African Community, received a total compensation of Ksh185.76 million 1.44 million from the leading lender in 2023.

The total compensation for 2023 exceeded the previous years total reward of Ksh147.73 million 1 million by 25.75 percent. This increase comes against the backdrop of the groups robust financial performance in 2023, with its profit after tax increasing from Ksh13.78 billion 93.4 million in 2022 to Ksh21.46 billion 166.44 million.

Gachoras 2023 compensation package comprises a base salary of Ksh93.48 million 723,531 and a performance-based short-term incentive of Ksh60 million 464,397 derived from the banks exceptional performance during the fiscal year ending December 2023.

In addition to the base salary and his performance-based short-term incentive, Gachora also received a long-term incentive award of Ksh21.28 million 164,748 from NCBA Group, a financial services conglomerate with subsidiaries in Kenya, Tanzania, Uganda, and Rwanda. This award recognizes his dedication and extensive expertise in the industry.

Gachora has served as CEO and executive director of NCBA Group since 2019 , solidifying its status as a leading financial services group in East Africa. He also sits on the NCBA Group board. Previously, he was appointed Group Managing Director and CEO of NIC Bank Group in September 2013, prior to the merger with Commercial Bank of Africa Limited in 2019.